deluded California realtortard of the day

Sure, this is a bubble.....but only to a point. Like the article said, many people are buying these homes with cash, using their stock options. Those folks own their homes outright, so they won't be as susceptible to an economic downturn. Even in 2008, some neighborhoods didn't experience much if any market contraction. Most of the people working in tech and living on the peninsula, Cupertino, Sunnyvale, etc., didn't lose their jobs, and thus didn't lose their homes. And the folks who were forced to sell their homes were met with a lot of folks living out past Sunol, in Morgan Hill, etc. who jumped at the chance to move closer.

The home I grew up in in Sunnyvale peaked at $1.1M in 2007, dipped only about 15% in the crash, and was back to its $1.1M peak by 2012. Today it's valued at about $2M. I'm fairly certain that pace (doubling in less than 5 years) won't keep up.....but even a massive 25% drop will only have a minor (and temporary) impact. Those who bought at the peak of the bubble in 2007 right before the financial collapse and didn't need to sell right away ended up with a massive steal. Those who buy at $2M today may or may not be selling for $4M in 2022, but I can't see any way they'd ever have to sell for less than $1.5M.

Meanwhile regular folks will continue to leave and 3rd world types will take their place by shacking up 10 to home. At some point all that will be left is some gated neighborhoods for the tech folks surrounded by 3rd worlders jammed in like sardines. Sounds awesome! Those tech folks sure are smart!

Apple alone is going to be a trilion dollar company. 1,000 billion dollars. 1 million million dollars.

And you know where everyone who owns that stock lives? Right here in the valley. In the last few years, the stock has gone up 300 billion dollars. 300 thousand million.

I know a shit ton of people who work at Apple. They are all deca millionaires+. They can toss $5MM on a home with no mortgage and it doesn't affect them.

Google, Apple, Facebook, Amazon, Microsoft, Cisco, Oracle, EBay, etc. are not going anywhere and you are ALL fucked because you, and everyone else, is fucking addicted to all of them. You can't live without them. They have all your info and own you. And they will just own you more in the future. You are fucked, they print their own money (their stock) and you have to live with it. You are priced out, forever.

Apple alone is going to be a trilion dollar company. 1,000 billion dollars. 1 million million dollars.

And you know where everyone who owns that stock lives? Right here in the valley. In the last few years, the stock has gone up 300 billion dollars. 300 thousand million.

I know a shit ton of people who work at Apple. They are all deca millionaires+. They can toss $5MM on a home with no mortgage and it doesn't affect them.

Google, Apple, Facebook, Amazon, Microsoft, Cisco, Oracle, EBay, etc. are not going anywhere and you are ALL fucked because you, and everyone else, is fucking addicted to all of them. You can't live without them. They have all your info and own you. And they will just own you more in the future. You are fucked, they print their own money (their stock) and you have to live with it. You are priced out, forever.

Oracle is fucked. They are shiting customers left and right. Postgres has more market growth.

Real estate goes in cycles. Always has, always will. But ultimately it obeys the laws of supply & demand like everything else. That's why homes in Silicon Valley sell for huge amounts, and homes in Buttfuck Kansas don't. Successful rich people want to live in Silicon Valley and they'll pay market price for it. Life losers settle for living in buttfuck, and prices reflect that too. Sneer all you like at dotcom millionaires, they don't really give a fuck what you think.